Bill Melvin, owner of Liquid Asset Partners, says the new operators of the Skip Barber Racing School will bring the famed academy back to its original glory, MLive.com reported. Liquid Asset Partners, which purchased the name and assets of the school in bankruptcy court last summer, has sold the school's brand to DeMonte Motorsports, an operator of racing schools based in Long Island, New York. Skip Barber Racing School, a 40-year-old institution whose alumni includes racing drivers Michael Andretti, Danica Patrick, Juan Pablo-Montoya, Bill Elliot, Jeff Gordon and Kyle Petty, was sold to Liquid Asset Partners for $830,000 under an agreement approved by a New York bankruptcy court on Tuesday, Aug. 8. Since purchasing the school, Melvin sold off most of its assets, which included a fleet of race cars and related equipment, in an online auction.
